Announcement • 22h
Ashley Gold Corp Provides Update on Tak Project Drilling and Exploration Results
Ashley Gold Corp. provided a comprehensive update in regards to ongoing activities. Two holes from Phase 1 remain pending, with assays expected shortly. Four holes of Phase 2 program completed, logging and cutting to commence later this week. Located additional outcrop east of the 67Z, to be drilled in a Phase 3 program. Thirty-two samples from prospecting have results pending. The Phase 2 program included 1 exploratory hole between D99Z and 67Z, as well as three holes on line 250 directly in the vicinity of the 67Z. This included 1 twin of the two holes from 2002 that found the zone, as well as two step outs south, drilling North for data points on lithologies and dip. Brief visuals from all 67Z holes show stockworks in QFP, potassic alteration, as well as some of the best sulphide content encountered to date on the Tak, with logging and assays to confirm these early field visuals in greater detail. The Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators - in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company. In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged. D99Z: In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. With the final two holes still pending from Phase 1 drilling, the surface mineralization width in the D99Z is already estimated at +80m. 67Z: Two holes carried out in 2002 included TAK-02-06 and TAK-26-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. The Northern Trench Zone ("NTZ") comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley has 32 grab samples pending, with the majority taken from the trenches. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records. Prospecting east, along a possible strike extent of the 67Z has revealed silicified rock with sulphide content. In Phase 3 drilling, these step out targets will be tested with high priority. January 1940s - Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. 1980 - Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. 1998-1999 - Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP. 2002 - Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). January 6, 2026 - Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). February 10, 2026 - Ashley Gold Corp. announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. March 14, 2026 - Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. April 2–10, 2026 - Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. April–May 2026 - Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2. May 14, 2026 - Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval.
